- #1
BU192000
- 2
- 0
Ok, so I've looked through all of my notes and throughout the textbook and I cannot find how to do this problem. I'm sure it's probably pretty easy, but I just can't even figure out how to start. Here it is:
Gritz-Charlston is a 300 unit luxury hotel. All rooms are occupied when the hotel charges $80 per day for a room. For every increase of x dollars in the daily room rate, there are x rooms vacant. Each occupied room costs $22 per day to service and maintain. What should the hotel charge per day in order to maximize profit?
If anyone could just get me started it would be greatly appreciated.
Gritz-Charlston is a 300 unit luxury hotel. All rooms are occupied when the hotel charges $80 per day for a room. For every increase of x dollars in the daily room rate, there are x rooms vacant. Each occupied room costs $22 per day to service and maintain. What should the hotel charge per day in order to maximize profit?
If anyone could just get me started it would be greatly appreciated.